Key Points from the 2025 Berkshire Hathaway Shareholders Meeting!

1. Successor: Abel is fully prepared to take on the role of CEO of Berkshire Hathaway; will recommend the board appoint Abel as CEO by the end of the year.

2. Tariff Issues: The U.S. should seek trade with other countries around the world; trade should not be used as a weapon.

3. U.S. Fiscal Policy: America's fiscal issues scare me, but this is not a problem unique to the U.S.

4. Significant Fluctuations in U.S. Stocks: Compared to historical crashes, the declines of the past few weeks are nothing.

5. Artificial Intelligence: I won’t invest and develop everything centered around AI; if there are choices within AI, it should be left to (Berkshire Vice Chairman) Ajit Jain to decide.

6. Japanese Market: I will not sell any Japanese stocks, not now and not in the next 10 years.

7. Cash Reserves: The reason I made a lot of money is that I have never invested all my capital at once.

8. Timing of Action: The chance of an opportunity arising tomorrow is extremely slim, but the probability of it happening within five years is not low.

9. Advice to Young People: You should be with people who are better than you; do the work you enjoy and don’t worry too much about what the initial salary is.

10. Praise for Apple CEO Cook: It’s a bit embarrassing to say, but Cook has made more money for Berkshire than I have.